HSBC Savings Account
Benefits
- No fee for cash withdrawals and balance inquiry on non-HSBC UAE Switch ATMs1
- Choice between AED, USD, EUR, GBP and RMB account currencies
- 32 cheque deposit machines at key locations in the UAE without requiring a card and PIN
- International Visa debit cardAccepted at over 25 million outlets worldwide and giving you access to your accounts at over 1 million ATMs around the world.
- Six over-the-counter transactions every month if done using AED with no charge
- 24/7 banking through online banking, phone banking, mobile banking and SMS alerts
- Access to 91 cash deposit machines around the UAE for instant credit into your account
- Money transferTransfer funds within the UAE and abroad in multiple currencies.
The benefits and features set out above are current as at the date they appear on our website. However, they may be subject to change at any time at our discretion.
We will try to notify existing customers of any changes that may impact them either in advance of the change or shortly afterwards.
Things you should know
An HSBC account comes with a debit card and monthly statements. Please refer to our Schedule of Services and Tariffs for a complete list of services along with any fees and charges associated with them.
If you're looking for a lower cost option, you could consider a Personal Banking Account. Not only does it offer our lowest eligibility criteria for a single account, it also has the lowest fees if you don't meet them. See our Schedule of Services and Tariffs (PDF, 416KB) for details.
We may request further information or documentation from you, in order to comply with the Foreign Account Tax Compliance Act (FATCA).
| Currency |
Fixed interest rates |
|---|---|
| AED | 0.05% |
| USD |
0.10% |
| Currency |
AED |
|---|---|
| Fixed interest rates | 0.05% |
| Currency |
USD |
| Fixed interest rates | 0.10% |
All Fixed interest rates quoted above are in Annual Equivalent Rates. This is a notional rate, which illustrates what the credit interest will be if interest were paid for a full calendar year. The interest will accrue for each calendar day in a month.
For Savings Accounts interest will be calculated based on your minimum monthly balance and paid into your savings account in January and July.
Interest on UAE Dirhams and United States Dollars are calculated on a 360 day basis.
Fixed Interest rates are subject to change from time to time at the sole discretion of the Bank. This change will automatically reflect on the Savings account. We will notify you of any changes to the Fixed interest rate before they happen in line with the Personal Banking Terms and Conditions.
Documents required to apply
Sole account
- original passport (for all customers)
- valid residence visa (for non-GCC national customers only)
- original Emirates identification card (for all customers)
- proof of UAE residence in the form of either a utility bill/ rental/ lease agreement/ title deed/ employment letter
- original labour card/work ID (for female applicants on father's/husband's sponsorship)
- original trade licence (for all self-employed customers)
- for income transfer customers, original income transfer letter from the employer must be provided
Joint account
Both you and your joint applicant(s) need to complete the savings account opening process by personally visiting any of our branches or Customer Service Centres, with the following documents:
- original passport (for all customers)
- valid residence visa (for non-GCC national customers only)
- original Emirates identification card (for all customers)
- proof of UAE residence in the form of either a utility bill/ rental/ lease agreement/ title deed/ employment letter
- original labour card/work ID (for female applicants on father's/husband's sponsorship)
- original trade licence (for all self-employed customers)
- for income transfer customers, original income transfer letter from the employer must be provided
Apply online
New to HSBC UAE
Instantly confirm your eligibility online and get an approval in principle.
Existing HSBC UAE Customers
Log on to online banking for the quickest and easiest way to apply.
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